Tuesday, January 1, 2013

Wind Energy PTC Included in Budget Agreement

The production tax credit for wind energy is part of the new budget bill approved by the U.S. Congress, according to a Dow Jones report. The cost of extending the wind-energy credit, which is worth 2.2 cents for every kilowatt-hour of electricity generated by a wind farm, was estimated at $12 billion over 10 years by the Joint Committee on Taxation. In a modification of the program, developers can receive the wind credits for projects that begin construction by Jan. 1, 2014, rather than having to complete and connect them by that date. Read more